Extremely popular ticker and a lot of eyes were on it today, the numbers came in today but they were not a beat, they were mixed, production numbers beat but vehicles sold missed....let's see how the market digests this information.
Two very important levels coming up now, the previous high at $216 and the red trend line at $232.
The 200 Day MA is at $216 too.
So What Now?
If the bulls come out this week they will need to break through these important levels and then they comfortably have it in the bull case.
Rejection at these levels and it can come down for the second Wave 2 in green or Wave X in red.
My opinion is that it may struggle to break through these levels, it is a tall order to ask the bulls to step in, it all depends on their appetite and whether the market will turn bullish and carry this too.
With $AAPL and $MSFT in the overbought territory, this is a big ask.